The Greenbrier Companies, Inc. announced it had received orders for 15,300 new railcars with an aggregate value of $1.9 billion during its fiscal fourth quarter ended on Aug. 31. Orders for the quarter demonstrate Greenbrier's lease origination...
Read Story
September 21, 2023, 07:10 AM
|
Platinum Equity announced it provided a second-lien term loan to Railway Equipment Leasing and Maintenance Inc. (RELAM) to refinance existing indebtedness and support future growth of the business. RELAM is a well-known provider of specialty rental...
Read Story
August 16, 2023, 07:00 AM
|
The Greenbrier Companies, Inc. announced it had received orders for 4,500 new railcars with an aggregate value of $580 million during its fiscal second quarter ended on Feb. 28. Orders for the quarter included tank cars, automobile-carrying railcars...
Read Story
March 22, 2023, 07:12 AM
|
Trinity Industries, Inc. announced that Chief Executive Officer and President, Jean Savage, has been named as the League of Railway Women (LRW) 2022 Railway Woman of the Year. This award comes in recognition of Savage’s drive for operational...
Read Story
January 13, 2023, 07:12 AM
|
Trinity Industries, Inc. (Trinity) announced its subsidiary, Trinity Rail Group, LLC, has entered into a new long-term railcar supply agreement with GATX Corporation to deliver a mix of 15,000 newly built tank and freight railcars over a six-year...
Read Story
October 04, 2022, 07:18 AM
|
The U.S. Department of Labor issued a statement early Thursday on a Tentative Railway Labor Agreement.“Following 20 consecutive hours of negotiations at the Department of Labor, rail companies and union negotiators came to a tentative agreement that...
Read Story
September 15, 2022, 07:11 AM
|
Rolling Stock Solutions, LLC (RSS) announced a new leasing platform focused exclusively on delivering proven, like-new locomotive power to U.S. commuter rail agencies facing challenges to replace and improve an aging locomotive fleet.RSS is led by...
Read Story
June 13, 2022, 07:15 AM
|
The Greenbrier Companies, Inc. in its first fiscal quarter ending Nov. 30, 2021 reported new railcar orders for 6,300 units valued at $685 million. These orders increased its backlog to 28,000 units valued at $3 billion. Greenbrier announced new...
Read Story
February 03, 2022, 07:09 AM
|
Three of America's leading industrial and transportation companies – United States Steel Corporation, Norfolk Southern Corporation and The Greenbrier Companies, Inc.– jointly announced a new, more sustainable steel gondola railcar. Using an...
Read Story
December 09, 2021, 07:23 AM
|
MUL Railcars, Inc., a railcar leasing company, announced it has changed its name to PNW Railcars, Inc.Mitsubishi HC Capital Inc. implemented the business Integration through an absorption-type merger (the Merger) on April 1, 2021, in which Mitsubishi...
Read Story
December 03, 2021, 07:20 AM
|
The Greenbrier Companies, Inc., an international supplier of equipment and services to global freight transportation markets, announced it received new orders of 6,200 units valued at $670 million during the first fiscal quarter that began Sept. 1....
Read Story
December 02, 2021, 07:15 AM
|
The Greenbrier Companies, Inc. announced new orders totaling 5,500 units valued at more than $530 million received thus far during its fourth fiscal quarter that began June 1. This increases Greenbrier's backlog and provides further visibility...
Read Story
August 26, 2021, 07:15 AM
|
American Industrial Transport has acquired the railcar leasing business from The Andersons, Inc. for approximately $550 million in cash. AITX and its affiliates now can offer customers a leasing fleet of approximately 60,000 railcars across a diverse...
Read Story
August 17, 2021, 07:32 AM
|
L.B. Foster Company, a leading provider of products and services for the rail industry and solutions to support critical infrastructure projects, announced that on August 13, 2021, it entered into a Fourth Amended and Restated Credit Agreement to...
Read Story
August 17, 2021, 06:02 AM
|
Kroll Bond Rating Agency (KBRA) assigned preliminary ratings to Trinity Rail Leasing 2021 LLC, Green Secured Railcar Equipment Notes, Series 2021-1, Class A Notes and Class B Notes issued by Trinity Rail Leasing 2021 LLC (the “Issuer” or “TRL...
Read Story
June 18, 2021, 06:00 AM
|
The Greenbrier Companies, Inc. announced plans to form GBX Leasing, a new leasing joint venture (JV) with The Longwood Group to develop an owned portfolio of leased railcars primarily to be built by Greenbrier. Longwood is a Chicago-based...
Read Story
February 08, 2021, 07:25 AM
|
Trinity Industries, Inc. announced its plans to enter into a joint venture with Norfolk Southern, GATX Corporation, Genesee & Wyoming and Watco to create a coalition that is expected to accelerate rail modal transformation through the advancement of...
Read Story
November 13, 2020, 07:25 AM
|
Banks including Wells Fargo & Co., Citigroup Inc., PNC Financial Services Group Inc. and CIT Group Inc. own hundreds of thousands of railcars that carry coal, grain and other commodities through North America. It is an unusual line of business for...
Read Story
December 27, 2019, 07:30 AM
|
Stonebriar Commercial Finance (SCF) announced it has entered into an agreement with The Greenbrier Companies Inc. to purchase 3,000 new railcars. The order is comprised of a mix of tank and freight cars that deliver over a four-year period, beginning...
Read Story
September 18, 2019, 07:25 AM
|
ECN Capital Corp announced it has closed the previously announced sale of substantially all of its remaining rail finance assets to GATX Corporation.ECN Capital in November 2018 announced it had entered into a definitive agreement to sell the...
Read Story
January 10, 2019, 07:15 AM
|
Trinity Industries, Inc. reported its wholly owned subsidiaries, Trinity Industries Leasing Company (TILC) and Trinity Rail Leasing 2018 LLC (TRL-2018), closed a two-tranche, railcar asset-backed securitization in the aggregate amount of $482.5...
Read Story
June 21, 2018, 07:05 AM
|
Trinity Industries, Inc. introduced the name of its future infrastructure company as Arcosa, Inc., following the separation of the two companies into independent, publicly traded companies. The previously announced spin-off remains on track to be...
Read Story
May 16, 2018, 07:15 AM
|
FreightCar America announced that it has entered into an asset purchase agreement with Navistar, Inc. to acquire substantially all of Navistar’s operating assets associated with its railcar operations at the Shoals facility in Cherokee, Alabama. The...
Read Story
February 27, 2018, 07:05 AM
|
Trinity Industries announced that its Board of Directors has unanimously approved a plan to pursue a spin-off of the Company’s infrastructure-related businesses to Trinity shareholders. The separation is planned as a tax-free spin-off transaction to...
Read Story
December 15, 2017, 07:05 AM
|
Mitsubishi UFJ Lease & Finance Company Limited ("MUL") announced that it opened an MUL Railcars, Inc. ("MULR") office in Portland, Oregon. The new office serves as the base of operations for the Company's railcar leasing business in the U.S. MUL has...
Read Story
December 14, 2017, 07:07 AM
|
The Wall Street Journal reported that GE may be seeking to exit from its railroad business as new Chief Executive John Flannery seeks to steamline the company. According to the WSJ report, the company is exploring options for the GE Transportatin...
Read Story
October 27, 2017, 07:05 AM
|
ECN Capital Corp. announced that it has closed the sale of Rail Finance Assets (Element Rail Leasing II) to an investment vehicle managed by Napier Park Global Capital US LP on the terms previously announced. “We are pleased to close on this...
Read Story
September 27, 2017, 07:02 AM
|
According to the latest market study released by Technavio, the global railcar leasing market is expected to grow at a CAGR of close to 7% during the forecast period. The research report titled ‘Global Railcar Leasing Market 2017-2021’ provides an in...
Read Story
September 25, 2017, 07:10 AM
|
Element Fleet Management announced the sale of US$23 million of Element Rail Leasing II LLP 2016-1 Class B notes for an amount exceeding the current book value of the notes.“We continue to make strong progress on our overall growth strategy including...
Read Story
September 20, 2017, 07:00 AM
|
ECN Capital Corp. announced that it has entered into agreements to sell $1,487 million of Railcar Assets to affiliates of ITE Management L.P. and Napier Park Global Capital for proceeds of approximately $1,439 million (collectively, the “Railcar...
Read Story
August 09, 2017, 07:10 AM
|
CIT Group announced that it reached a definitive agreement to sell NACCO, the European rail leasing business, to German-based VTG Aktiengesellschaft (VTG) for a purchase price of EUR 780 million, or $890 million USD based on current exchange rates...
Read Story
July 05, 2017, 07:15 AM
|
The Greenbrier Companies and Tokyo-based Mitsubishi UFJ Lease & Finance (MUL) completed agreements to expand their existing commercial relationship in North America consistent with the parties' Memorandum of Understanding announced in April. MUL...
Read Story
June 02, 2017, 07:13 AM
|
The Greenbrier Companies, Inc.and Tokyo-based MUL announced execution of a Memorandum of Understanding (MOU) to substantially expand the parties' existing commercial relationship in North America. MUL intends to grow its portfolio from 5,000 railcars...
Read Story
April 06, 2017, 07:16 AM
|
Sumitomo Mitsui Banking Corp. (SMBC) announced that its railcar operating lessor and fleet management business, SMBC Rail Services LLC (SMBC Rail), has signed an agreement to purchase American Railcar Leasing LLC (ARL) from Icahn Enterprises L.P.The...
Read Story
December 20, 2016, 07:15 AM
|
PNC Equipment Finance, LLC, a wholly-owned subsidiary of PNC Bank, N.A., announced the completion of its railcar solutions for corporate customers with the addition of full-service operating railcar leases. Features of this new rail solution for...
Read Story
November 15, 2016, 07:10 AM
|
CAI International, Inc. (CAI), one of the world's leading transportation finance and logistics companies, announced that it has entered into a new $100 million term line of credit on rail car assets from a syndicate of banks. The facility provides...
Read Story
September 02, 2016, 07:01 AM
|
NESCO, LLC announced that it has acquired V&H Leasing Services from V&H Inc. This acquisition will bring V&H’s rail rental business to NESCO’s newest division, NESCO Specialty Rentals. NESCO created the Specialty Rentals division in January to focus...
Read Story
August 15, 2016, 07:15 AM
|
Stonebriar Commercial Finance's Rail Leasing group announced it has completed a $6 million purchase of 5,161 c.f. Covered Hoppers on lease to a U.S.- based global agribusiness. The purchase represents the continued growth of the rail leasing platform...
Read Story
April 15, 2016, 07:30 AM
|
Three Chicago-based investors, affiliates of Allstate, Duchossois Capital Management, and CC Industries, Inc., announced the formation of a new freight railcar leasing company, Riverside Rail. Earlier this week the investor group acquired 2,032...
Read Story
March 07, 2016, 07:06 AM
|
The Greenbrier Companies announced that Mr. William Glenn, Senior Vice President and Chief Commercial Officer has decided to pursue opportunities outside the Company. Effective immediately, Mr. Glenn is relinquishing his responsibilities as Chief...
Read Story
February 29, 2016, 07:00 AM
|
Wells Fargo & Company (NYSE:WFC) announced that First Union Rail, its railcar finance, leasing and fleet management business, has changed its name to “Wells Fargo Rail.” The Company’s recent acquisition of GE’s railcar and locomotive leasing business...
Read Story
February 18, 2016, 07:08 AM
|
Trinity Industries, through its wholly-owned subsidiary, TrinityRail Asset Management Company, LLC (“TRAMCo”) announced the extension of its strategic railcar alliance with Element Financial Corporation. Under the extended alliance, Element is...
Read Story
October 15, 2015, 07:05 AM
|
Stonebriar Commercial Finance LLC announced that it has provided $35 million lease financing to fund the purchase of 237 new rail cars. The lessee refines and supplies unbranded gasoline, ultra-low sulfur diesel, heating oil, jet fuel, asphalt...
Read Story
July 15, 2015, 07:00 AM
|
Trinity Industries announced that its subsidiary, Trinity Industries Leasing Company (“TILC”), has renewed its railcar leasing warehouse facility through April 2018, and increased its capacity from $475 million to $1 billion. “We are pleased to...
Read Story
April 10, 2015, 07:00 AM
|
The Greenbrier Companies, Inc. has entered an alliance with Mitsubishi UFJ Lease & Finance (MUL) through its subsidiary Greenbrier Leasing Company (GLC). MUL plans to acquire a portfolio of about $1 billion in leased railcar assets, both new and used...
Read Story
May 23, 2014, 06:45 AM
|
Napier Park Global Capital LLC (“Napier Park”), a global alternative asset management firm, announced today that its Financial Partners team has completed the initial investment of the Napier Park Railcar Lease Fund, LLC (the “Railcar Lease Fund” or...
Read Story
May 13, 2014, 05:59 AM
|
Element Financial Corporation announced that it has closed its third railcar lease portfolio with the purchase of a further US$118 million worth of leased railcars from Dallas-based Trinity Industries, the leading railcar manufacturer in North...
Read Story
March 28, 2014, 06:30 AM
|
GATX Corporation announced its purchase of GE Capital Rail Services’ North American per diem boxcar fleet, consisting of more than 18,500 boxcars. The purchase price was approximately $340 million. Brian A. Kenney, president and chief executive...
Read Story
March 25, 2014, 06:31 AM
|
Key Equipment Finance announced it has provided solar financing for Providence and Worcester Railroad Company (P&W), a short-line freight railroad based in Worcester, Mass. The solar array will generate an estimated 190kW of electricity annually and...
Read Story
March 04, 2014, 07:00 AM
|
CIT Group today announced the acquisition of Paris-based Nacco SAS (Nacco), one of the largest independent full service railcar lessors in Europe. Nacco owns more than 9,500 railcars and services over 150 customers in 16 countries. Dan DiStefano...
Read Story
February 03, 2014, 06:45 AM
|
Element Financial (“Element” or the “Company”), announced that it has completed its second railcar portfolio acquisition with the purchase of a further US$396 million worth of leased railcars from Dallas-based Trinity Industries, the leading railcar...
Read Story
January 29, 2014, 07:00 AM
|
Element Financial Corporation (“Element” or the “Company”) announced that it has entered into a strategic alliance with Trinity Industries (“Trinity”) to provide lease financing for up to $2 billion worth of railcars over the next two years. Element...
Read Story
December 10, 2013, 07:03 AM
|
GATX Corporation announced organizational changes within its Rail North America segment. Thomas A. Ellman is appointed executive vice president and president, Rail North America. In this role, Mr. Ellman will continue to oversee the commercial...
Read Story
June 28, 2013, 07:02 AM
|
Trinity Industries, Inc. announced it has partnered with an institutional investment fund, Napier Park Railcar Lease Fund LLC (the “Napier Park Fund”) and an additional co-investor who also invested in the Napier Park Fund, to create RIV 2013 Rail...
Read Story
May 08, 2013, 07:05 AM
|
Transport Topics reported U.S. rail intermodal traffic posted the highest volume for the month of March on record, according to the Association of American Railroads.According to the report, March intermodal traffic rose 0.5% to 933,208 units over...
Read Story
April 08, 2013, 06:48 AM
|
FreightCar America reported results for the second quarter ended June 30, 2012, with revenues of $181.2 million and net income of $5.6 million. For the same quarter in 2011, the Company reported revenues of $97.6 million and net income of $0.2...
Read Story
August 06, 2012, 07:10 AM
|
CIT Group announced that CIT Rail, the third largest railcar lessor in North America, has placed orders for an additional 3,000 tank cars from multiple manufacturers. Deliveries are scheduled to begin in 2014. “These new car orders demonstrate CIT...
Read Story
July 31, 2012, 07:05 AM
|
American Railcar Industries, Inc. (ARI) reported its second quarter 2012 financial results. "We are pleased with our strong financial performance, operating results and significant growth of our fleet of leased railcars," said James Cowan, President...
Read Story
July 26, 2012, 07:00 AM
|
CAI International, Inc., one of the world’s leading lessors of intermodal freight containers, reported that it has entered into an $85 million senior credit facility for the acquisition of rail cars. The senior credit facility is a three-year...
Read Story
June 15, 2012, 07:00 AM
|
CIT Group announced that CIT Rail, the third largest railcar lessor in North America, ordered 3,500 railcars from multiple manufacturers with deliveries scheduled throughout 2012 and 2013. These orders are for various tank car models that support the...
Read Story
June 05, 2012, 06:00 AM
|
FreightCar America, Inc. today reported results for the fourth quarter ended December 31, 2011, with revenues of $187.1 million and net income of $8.5 million, showing substantial improvement versus the prior quarter and the fourth quarter of 2010....
Read Story
February 17, 2012, 06:30 AM
|
Progressive Railroading reported that in a survey of more than sixty executives in the railroad industry, in general, executives feel good about the year ahead despite the challenges facing the economy and industry. To follow are excerpts of...
Read Story
February 09, 2012, 07:30 AM
|